Development and Investment Bank of Türkiye Completes Biotrend Sustainable Sukuk Issuance
Within the scope of its investment banking activities, Development and Investment Bank of Türkiye completed Biotrend’s TRY 60 million, 91-day sustainable sukuk (lease certificate) issuance. Biotrend operates in sustainable energy generation, integrated waste management and carbon-credit trading.
Continuing its work without slowing down in line with Türkiye’s sustainable development objectives, Development and Investment Bank of Türkiye completed Biotrend’s TRY 60 million, 91-day issuance, with Ziraat Yatırım Menkul Değerler acting as sales intermediary, in the form of a sustainable sukuk compliant with the Capital Markets Board’s Guidelines on Green Debt Instruments, Sustainable Debt Instruments, Green Lease Certificates and Sustainable Lease Certificates.
Emphasising that the sukuk issuance represented significant cooperation in accelerating green-transition-focused investments in Türkiye, TKYB CEO İbrahim Öztop said: “The funds raised through this issuance will be used for environmentally friendly projects involving renewable energy generation from biomass, energy efficiency, products and production technologies adapted to the circular economy, pollution prevention and control, and combating climate change. As Development and Investment Bank of Türkiye, we are pleased to support our country’s green transition and contribute to its transition to a low-carbon economy, and we will continue such efforts with all our strength.”
Stating that the sukuk issuance diversified the company’s financing resources, Biotrend CEO Özgür Umut Eroğlu said: “At Biotrend, we continue our bio-circular-economy-focused activities and investments without slowing down. We believe the issuance has made an important contribution by creating resource diversity for the implementation of the investments identified under our company’s sustainability strategy, which is aligned with the United Nations Sustainable Development Goals. Listed in the BIST Participation Index, Biotrend continues to be an attractive destination for sustainability-focused investors through the sukuk issuance and to diversify its domestic and international financing resources.”
The sustainable sukuk issuance serves the United Nations Sustainable Development Goals of Affordable and Clean Energy; Industry, Innovation and Infrastructure; Sustainable Cities and Communities; Responsible Consumption and Production; and Climate Action. The Framework Document prepared for the issuance and the use-of-proceeds areas were assessed by an independent sustainability advisory company and, under a Second Party Opinion, were found to be aligned with the ICMA Green and Social Bond Principles, effective, purpose-driven and beneficial.